Conventional wisdom extols the virtues of investing in mutual funds and maximizing 401(k) contributions. Based on the size of the industry that exists to guide these decisions, one would assume there is value in the myriad options given to workers for deferred compensation. But not all savings plans are created equal, says Terry Allen, the serial entrepreneur behind 20 business ventures and the author of Coffee Can Investing: A Better Idea than Mutual Funds in an IRA or 401(k). Terry will join Bob live this Sunday to talk about his provocatively titled new book. They also discuss how special interests on Wall Street have created an unlevel playing field in investing, and how new possibilities for entrepreneurship may represent a silver lining on some unsettling trends.
An entrepreneur is defined as “a person who organizes and manages any enterprise, usually with considerable initiative and risk.” These qualities have always been valued and cherished in America. Entrepreneurship has improved our quality of life in immeasurable ways and it always will. An immigrant in our country takes as much risk and shows as much initiative as any entrepreneur. We should be spending our treasury to keep them here, not keep them out. The anti-immigration fervor represented by many on the right and some on the left is shameful, bigoted, mean-spirited and contrary to our national ethos. As Bob so often says, “let them all in.” To discuss the economic, social and security aspects of this most emotional issue and more importantly, to replace rhetoric with objectivity, Bob welcomed Cato’s Alex Nowrasteh back to his show. Alex brings his passionate devotion to truth to an issue which is usually discussed only with emotion.